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ECB President Draghi defends bond-buying program

European Central Bank (ECB) President Mario Draghi faced German lawmakers today to defend the bank's new unlimited bond-acquisition program. Germany's central bank has spearheaded the opposition to the program.

The European Central Bank's President Mario Draghi (pictured center) told German lawmakers on Wednesday that his controversial bond-buying plan won't create inflation and will not allow struggling countries to backslide on economic reform efforts.

The ECB's plan to buy unlimited amounts of short-term government bonds of troubled euro countries has been met with skepticism in Germany and resistance from the head of the country's central bank.